Purchase prices for wheat in Ukrainian ports rose to a record 3 315 / ton
Against the background of rapid growth in World quotations for the week in Ukraine, purchase prices for wheat in ports increased by 2 20/ton to a record 3 315/ton.
Prices for Russian and Black Sea wheat rose at the end of the tender in Egypt, while prices for Ukrainian wheat are additionally supported by a sharp rise in the cost of Transportation, which almost stopped the delivery of goods to ports.
According to the State Customs Service, Ukraine exported 12.538 million tons of wheat in my 2021/22 as of November 3, which, although it is ahead of last year's pace by 1.786 million tons, is only 53% of the projected exports, while last year 65% of total exports were shipped on this date.
Purchase prices for food wheat in ports increased to a record $310-315/ton or UAH 9150-9350/ton, and for feed wheat – to $292-295/ton or UAH 8600-8800/ton following the rise in the price of Black Sea wheat.
- December Black Sea wheat futures at Chicago SWOT hit a record вівторок 347/ton on Tuesday, and fell to.345/ton yesterday, leaving room for higher prices in the spot market.
- December wheat futures on Paris Euronext on Tuesday also rose to a record 295.75 €/ton or 339.44 €/ton , but yesterday, against the background of traders fixing profits, fell to 289.5 € /ton.
Markets are concerned about the unusual appeal of the Chinese government to its citizens with a request to accumulate food stocks, especially vegetables, ahead of winter, as they may not be enough in the coming months due to a poor harvest.
Export prices for Russian wheat with protein 12.5% and delivery in November for the week increased by 5 5/ton to F 317-324/ton FOB according to the Icarus agency, and by 9 9/ton to F 325/ton FOB according to SovEcon. As of October 28, Russia exported 10.5 million tons of wheat in my 2021/22, which is 32% lower than last year's pace.
US wheat fell by 1-3.1% amid profit-taking by traders and falling oil prices. Analysts expect that in the new report, the USDA will increase the estimate of wheat reserves in the United States, but reduce the estimate of global reserves by 0.2 million tons to 276.9 million tons.
December US futures fell:
- by 3 3.86 / ton to Чикаго 287/ton for soft winter SRW wheat in Chicago,
- by 2 2.76 / ton to H 290.6/ton for hard winter HRW wheat in Kansas City,
- by 1 11.57/ton to.383.6 / ton for hard spring HRS wheat in Minneapolis.
Falling oil prices may turn down the quotes of agricultural crops, especially energy ones, such as soybeans, corn and palm oil, which will affect the wheat market.